MoneyGram International, Inc. has announced a new service for U.S. consumers that will allow them to trade and store three of the most popular gambling cryptocurrencies – Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) using the company’s mobile app.
As global regulations allow, MoneyGram plans to expand into additional markets and expand the selection of cryptocurrencies available to customers.
The service will be available to Moneygram customers in nearly every state in the USA.
The company has been involved in making cryptos a part of real life for more and more customers through various partnerships and initiatives for several years now creating real-life use cases for participation in blockchain and cryptocurrency.
Some earlier services included partnerships with Stellar, G-Coin, and Coinme for digital wallet off ramping as well as a cross-border settlement system using Circle’s USD Coin (USDC). Now, customers can buy, sell, and hold cryptos using the company’s app in a pioneering move of blockchain-enabled settlement.
MoneyGram: “Cryptocurrencies are additive to everything we’re doing”
Alex Holmes, MoneyGram Chairman, and CEO said: “Cryptocurrencies are additive to everything we’re doing at MoneyGram. From dollars to euros to yen and so on, MoneyGram enables instant access to over 120 currencies around the globe, and we see crypto and digital currencies as another input and output option.
“As a next step in the evolution of MoneyGram, we’re thrilled to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold select cryptocurrencies,” said Holmes.
According to a press release from the company, MoneyGram’s mission is to connect the world’s communities by delivering financial solutions that are innovative. Today’s announcement shows it continuing to serve a customer base of tens of millions of people with the most recent execution of that strategy.
As a growth strategy and a way to enhance financial services globally, the company continues to build on its core products from the past while investing in new innovations and opportunities.
Bridging the Gap “between blockchain and traditional financial services“
Holmes continued: “As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet that demand and bridge the gap between blockchain and traditional financial services thanks to our global network, leading compliance solutions and strong culture of fintech innovation. We are excited for this next chapter in our journey.”
MoneyGram has been working with Coinme to expand consumers’ access to cryptocurrencies by opening thousands of locations in America where consumers can buy and sell crypto for cash.
Coinme is an API-driven crypto-as-a-service provider and licensed crypto exchange that makes the MoneyGram crypto app possible.
Learn more about using crypto or download the MoneyGram app here.